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From Times Staff and Wire Reports
Salomon to Announce 2nd-Quarter Loss: Wall Street powerhouse Salomon Inc. said it expects to report a net loss of about $200 million because of poor results at its Salomon Bros. investment banking and securities business. Salomon stock slumped on the news, falling $2 to $45.50 on the New York Stock Exchange after having traded as low as $44.75. The company said Salomon Bros. will report a loss, attributable primarily to its client-driven businesses.
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